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This is funny because it references Pabst Blue Ribbon, a popular brand of American light lager whose marketing relies heavily on the dubious claim of having been named “World’s Best Beer” at the 1893 World’s Columbian Exposition in Chicago, Il. Historians and beer experts have expressed doubt that PBR ever won such an award, and even question whether the contest ever took place at all. Regardless, the brand’s reliance on an accolade from the 19th century suggests an inability for their product to win any awards of significance in the intervening years (which saw very significant changes in the beer making industry). This displays a certain amount of cocky bravado in expecting its customers to be impressed by such dated praise.

This is analogous to the stereotypical practice of fraternity men who confidently brag about dated accomplishments of little contemporary relevance, such as high school athletic championships. The poster is expressing his admiration for PBR’s use of this analogous tactic, which reflects his own style of unearned braggadocio.